The Spanish giants spent €181.5 million in last summer's transfer window, notably signing Bale from Tottenham Hotspur in a world-record deal, while the club have an outstanding debt of more than half a billion euros.

And the apparent financial disparity displayed by Madrid's transfer policy does not sit well with Hitzfeld.

He told Fútbol Táctico magazine: "It is incomprehensible. I do not understand how they can with so much debt.

"It seems unfair that Real Madrid can buy those players with the amount of debt that they have at the moment. It is not fair."

The 64-year-old then went on to cite former club Bayern Munich as an example of balancing competitive success and financial prudence.

Hitzfeld added: "Bayern Munich are a club in a healthy situation without any debt. They will only sign players according to their own financial potential.

"They have paid large sums of money in recent years, but have never owed money to any organisation or club."